# Apiary app – Responsible Crowdfunding through the Curation Market

[MaxSemenchuk]

Request for Nest membership and funding (#78)

Team name: Apiary

Proof of concept / research whitepaper:

• Initial proposal by Luke Duncan
• Topic on Aragon research forum
• Use cases for Apiary article
• Small demo of the current app version
• Repo dev branch

Burn rate: $15k/month

Version 0.1-0.5 development: 5.5 mo. x $15k = $82.5k
Release and Bounties: $17.5k

Legal structure: N/A (Giveth or Aragon DAO are possible)

Team and roadmap

Proposal

Apiary is a platform for emergent organization built on Aragon. Contributors stake tokens into organizations on the Apiary platform using a bonding curve. Funds held in the bonding curve's reserve pool are released over time into a discretionary pool that the Aragon DAO can use to reward contributors. Splitting funds into reserve and discretionary pools provides smart-contract enforced accountability between project contributors and patrons throughout the lifecycle of a project while simultaneously ensuring sufficient liquidity to support the emergence of a long-tail of micro-organizations.

We are a driven team willing to take on this project and work on it for the 6-12 months.

[CLAassistant]

All committers have signed the CLA.

[mariapao]

Hi @MaxSemenchuk thank you for submitting the request for funding.

We were reviewing the application and we really liked the demo. Can we see the code of the current app version. It doesn't matter if not perfect we are aware that it is an early version of the app that you would develop within the program. We just want to be able to see some code.

[MaxSemenchuk]

Hi @mariapao sure, pls check https://github.com/4IRE-Labs/aragon-fundraising/tree/develop

[mariapao]

Hi @MaxSemenchuk Great! We will check it out.

[izqui]

Hi @MaxSemenchuk and team, I took a look at the code and I have some suggestions for improvement:

• Even though tokens are currently not being transferred when someone sends ETH to the Campaign, it seems that the assumption is that the Campaign will somehow receive the tokens it is selling and then transfer them to the buyer. I think a better way could be for the ApiaryApp app to have permission to directly mint tokens using a Token Manager. You can check how we did that in our now deprecated fundraising app

• Having each Campaign be its own contract can have some advantages, but it may present some challenges for example if you wanted to allow campaigns to directly mint tokens as you probably don't want to give the permission to every individual campaign. However you could have the campaigns call back to the ApiaryApp that would have the permission to mint tokens. In our old fundraising app we decided on managing all campaigns in just a single contract and represent each campaign with a 'saleId'. In case you decide to continue having a contract per Campaign, I would recommend making Campaigns an AragonApp and just deploy proxies of campaigns every time you create one. You can see how we do that in APM for creating repos.

• The current prototype only works with ETH, allowing to buy tokens with any currency is quite important. You can check how we manage ETH and token transfers in our Vault or Finance app.

[KiriKiri]

Hi @izqui, thanks for your suggestions.

1. We didn't implement tokens sending to the investors because we hadn't decided when investors would receive tokens. We like your idea to give apiary app a permission to mint tokens. When the campaign ends it will mint tokens according to its records who what amount has invested.

2. We wanted to give investors the most convenient way to send money that's why we decided to make a separate smart-contract for each campaign with a single payable method without any params. Proxies can make this approach more flexible because the logic of each campaign can become upgradable.

3. Sure we have plans to allow investments in different tokens and currencies. I will take a look to finance app and we will add ERC-20 investments to the app for sure. We also have our product "iconx". We have already connected it with Aragon's MiniMe token as an experiment and we think we can develop it somehow to allow investors to invest in other cryptos (like bitcoin, dash, etc).

[mariapao]

Hi @MaxSemenchuk and team, after the review of the PoC and the discussions with you, we have decided not to move forward with this request for funding at the moment.

Thank you for taking the time to work on the PoC, the apiary application is one of the most anticipated applications on Aragon and we don't want to rush the decision on the team that will be working on it.